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South Africa’s Eastgate Shopping Centre Unveils Africa’s Largest Rooftop Solar Installation

Key Developments

South Africa's Eastgate Shopping Centre Unveils Africa's Largest Rooftop Solar Installation

Eastgate Shopping Centre is set to become the proud owner of Africa’s largest registered rooftop solar installation. The final phase of the project is expected to be completed by the end of the year.
 

The ambitious undertaking involves the installation of over 13,000 solar panels across an area of approximately 28,100 square meters.

This massive solar array will generate a total of 6 megawatts of electricity, significantly reducing the shopping centre’s reliance on the grid.

The decision to invest in solar power comes in response to the ongoing load-shedding challenges faced by South Africa.

Eastgate’s parent company, Liberty Two Degrees, has committed to a sustainable future and aims to achieve net-zero carbon emissions.

“This is a monumental achievement for Eastgate and a testament to our dedication to environmental responsibility,” said Melinda Isaacs, L2D’s Developments executive.

“By reducing our carbon footprint and ensuring uninterrupted operations during load shedding, we are creating a more sustainable and resilient future for our customers, tenants, and the community.”

The completed solar installation is expected to generate substantial energy savings and contribute to a cleaner environment.

Eastgate Shopping Centre remains committed to providing a seamless shopping experience for its customers, even during challenging times.

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Open Access Energy Secures $750K Investment to Power South Africa’s Clean Energy Transition

New Investments

Open Access Energy Secures $750K Investment to Power South Africa's Clean Energy Transition

Open Access Energy (OAE), a South African energy management software startup, has secured a substantial boost to its operations.
 

The company has successfully raised $750,000 in funding from Factor E Ventures, marking the first phase of its $1.5 million seed round.

This investment comes at a critical point for South Africa, which is grappling with severe energy challenges characterized by high costs and grid instability.

OAE aims to leverage its software solutions to address these issues by optimizing the distribution and management of renewable energy.

The company’s flagship platforms, Amptera and Energypro, are designed to facilitate seamless energy transactions and improve efficiency for independent power producers (IPPs) and municipalities.

OAE’s technology promises to enhance grid stability, reduce costs, and promote sustainable energy practices by connecting renewable energy sources to areas with high demand.

“This investment is a major milestone for OAE,” said Gerjo Hoffman, CEO of the company. “It will enable us to accelerate our growth, expand our market reach, and ultimately contribute to a more resilient and sustainable energy future for South Africa.”

Factor E Ventures expressed confidence in OAE’s potential to drive the country’s energy transition.

“OAE is well-positioned to address South Africa’s energy challenges,” said Tenbite Ermias, Partner at Factor E Ventures. “We are excited to support their growth and believe they have the potential to make a significant impact.”

Founded in 2021, OAE is rapidly gaining traction in the energy management sector.
With this latest investment, the company is poised to become a key player in South Africa’s transition to a cleaner, more decentralized energy system.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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Samaila Zubairu: A Trailblazer in African Investment and Economic Development

Samaila Zubairu: A Trailblazer in African Investment and Economic Development

Samaila Zubairu is a distinguished figure in the African investment landscape, celebrated for his impactful contributions to economic development across the continent.

A native of West Africa, Zubairu’s career is marked by a deep commitment to fostering sustainable growth and creating opportunities for businesses and communities in emerging markets.

Born and raised in West Africa, he grew up in a region that is rich in cultural diversity and economic potential.

His early exposure to the challenges and opportunities within his community inspired him to pursue a career that could meaningfully impact the continent’s economic future.

Zubairu’s academic journey laid a strong foundation for his future successes. He holds a BSc in Accounting from Ahmadu Bello University, Nigeria.

This provided him with a solid understanding of financial principles, which he has applied throughout his illustrious career.

He is also a Fellow of the Institute of Chartered Accountants, Nigeria (FCA), underscoring his expertise in financial management and strategic planning.

Zubairu has built an illustrious career in the investment management sector, particularly within private equity and venture capital.

Over the years, he has held several high-ranking positions in notable organizations, where his leadership has driven significant growth and transformation.

He began his career with key roles in some of Africa’s most influential companies, serving as the Treasurer for Dangote Group and later as the Chief Financial Officer for Dangote Cement Plc.

In July 2018, he was appointed as the 3rd President and Chief Executive Officer of the Africa Finance Corporation (AFC).

This role marked a new era of leadership for the organization, as Zubairu spearheaded the development and implementation of a five-year corporate strategy focused on accelerating development impact across Africa.

The strategy’s core objectives include increasing energy access for Africans, driving the sustainable development of natural resources, enhancing transport and logistics infrastructure, supporting heavy industries, and improving telecommunications and technology access.

Under his leadership, AFC’s total assets grew exponentially from US$4.1 billion when he joined to $10.6 billion by 2022.

Despite global economic challenges, including the COVID-19 pandemic and the Russia-Ukraine conflict, AFC’s Total Comprehensive Income nearly doubled from US$118 million in 2018 to US$214 million in 2022.

Zubairu has been involved in initiatives aimed at fostering economic development across West Africa.

His work has particularly focused on critical sectors such as infrastructure, technology, and finance.

Through these initiatives, Zubairu has helped create a more conducive environment for business growth and has improved access to capital for local enterprises.

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